King Luther Capital Management Corp Purchases 192,401 Shares of Cameco Co. (NYSE:CCJ)

King Luther Capital Management Corp raised its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 28.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 857,849 shares of the basic materials company’s stock after buying an additional 192,401 shares during the period. King Luther Capital Management Corp’s holdings in Cameco were worth $40,971,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in Cameco in the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 238 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Cameco by 84.2% during the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Cameco by 130.6% during the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 550 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Cameco by 68.8% in the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 642 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Trading Up 0.3 %

CCJ opened at $57.61 on Thursday. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $59.24. The firm has a market capitalization of $25.07 billion, a PE ratio of 303.21 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company’s 50-day moving average is $50.51 and its 200 day moving average is $48.47.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, research analysts predict that Cameco Co. will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is presently 57.89%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Scotiabank reduced their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.